https://www.taxtmi.com/caselaws?id=751796 A survey statement under section 133A, when timely retracted and supported by affidavit, could not by itself sustain additions for excess stock and alleged advances without corroborating material; those additions were deleted. Excess cash found during inventory was independently supported by the cash records and physical verification, so that addition was sustained. For stock shortage, the shortage was treated as unrecorded sales, but profit had to be estimated using the accepted gross profit rate rather than an excessive rate, giving partial relief. The appeal was partly allowed on this basis. en-us Fri, 12 Jan 2024 00:00:00 +0530 Thu, 20 Nov 2025 15:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751796 A survey statement under section 133A, when timely retracted and supported by affidavit, could not by itself sustain additions for excess stock and alleged advances without corroborating material; those additions were deleted. Excess cash found during inventory was independently supported by the cash records and physical verification, so that addition was sustained. For stock shortage, the shortage was treated as unrecorded sales, but profit had to be estimated using the accepted gross profit rate rather than an excessive rate, giving partial relief. The appeal was partly allowed on this basis. Case-Laws Income Tax Fri, 12 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751796